GM second-quarter sales increase 18.8% as supply chain stabilizes

DETROIT – General Motors' U.S. conveyance income accrued by 18.8% successful the 2nd 4th compared to subdued results a twelvemonth agone erstwhile the automaker was battling proviso concatenation issues.

The Detroit automaker reported sales Wednesday of 691,978 caller vehicles from April done June. That compared to 582,401 vehicles during the 2nd 4th of 2022. It besides is simply a sequential summation compared to GM's first-quarter income of conscionable implicit 600,000 caller cars and trucks.

GM's second-quarter sales, along with those of different automakers specified arsenic Honda Motor, Nissan Motor and Stellantis, bespeak request for caller vehicles remains beardown arsenic inventories of cars and trucks amended from historically debased levels during the coronavirus pandemic and proviso concatenation problems.

Auto manufacture forecasters task manufacture income to person accrued 16% to 18% during the 2nd 4th compared to a twelvemonth earlier.

Cox Automotive precocious accrued its full-year caller conveyance income forecast to 15 cardinal for the broader industry, a summation of astir 8% from 2022, erstwhile income finished astatine 13.9 cardinal owed to debased inventory levels and inflated prices.

GM said retail income accrued 15% done the archetypal fractional of the year, portion its fleet concern jumped 30%.

GM's EV income topped 36,300 during the archetypal fractional of this year, including 15,652 successful the 2nd quarter.

The institution antecedently said it planned to nutrient 50,000 EVs during the archetypal fractional of the year, followed by 100,000 during the 2nd fractional of the year.

A GM spokesperson reconfirmed those targets Wednesday, but did not instantly remark connected whether the institution had met them. Sales way accumulation owed to logistics and inventory connected trader lots. Further accumulation details are expected to beryllium discussed erstwhile the automaker reports second-quarter net connected July 25, the spokesperson said.

GM maintained its presumption arsenic the country's largest automaker done the archetypal six months of the year, with income up 18.3% to astir 1.3 cardinal vehicles. The Detroit carmaker regained that decades-long rubric past twelvemonth aft Toyota Motor took the apical spot successful 2021. That twelvemonth was the first clip since 1931 that GM wasn't the best-selling car institution successful the U.S.

On Wednesday, Toyota reported income of much than 1 cardinal vehicles successful the U.S. done June.